Fintech firm PADUA Financial Group has launched a new online product comparison tool for financial advisers, enabling them to compare the fees and features of over 1,000 superannuation, pension and investment funds.
The investment service allowed up to eight platforms to be compared simultaneously, as well as enabling the comparison of underlying investment options including fees and the variance of the investment asset allocation against the client’s risk profile.
The insurance component allowed advisers to compare unlimited insurance policies for life, total permanent disability (TPD), trauma, income protection and business insurance.
Anne-Marie Esler, PADUA co-founder, said it would make it easy for financial advisers to generate product comparisons, satisfying best interests’ duty.
“Based on the feedback we’ve received from existing clients, we are very confident PADUA’s new Product Comparison tool will increase the quality of advice standards of any financial advice practice,” said Esler.
“PADUA aims to increase adviser-to-client engagement but we also recognise the urgent need for an investor facing superannuation, pension, investment fund and insurance policy comparison tool.”
PADUA would also release a new product comparison tool directly to retail investors in the coming months.